Multiple Choice
When prices are determined in a free-market system
A) changes in the economy can be foreseen by officials.
B) resources are allocated without conscious central coordination.
C) firms respond to changes in the economy mainly by altering the wage rate.
D) demand shifts,caused by price changes,coordinate all necessary changes in the economy.
E) supply shifts,caused by price changes,coordinate all necessary changes in the economy.
Correct Answer:
Verified
Correct Answer:
Verified
Q36: The "informal defence" of free markets includes
Q37: A free-market economy with perfect allocative efficiency
Q38: Export Development Canada (EDC)provides insurance to Canadian
Q39: Why would it be inefficient for the
Q40: Why might it be economically efficient to
Q42: Economic losses in an industry are a
Q43: Which of the following statements about free-market
Q44: Consider a remote village with a limited,freely
Q45: What is meant by the term "market
Q46: Consider a product (say,tulip bulbs)that generates positive